Payments can be rejected for several reasons. Please check the reconciliation reporting to view the reason as to why a payment was rejected. The most common rejection reasons are:

Insufficient funds

In this instance, the account in question must be sufficiently funded to make sure there is enough to cover the transaction. Once the account is credited, the payment will automatically process. The contract will remain open for three working days and if the account is not funded within this timeframe then the system will automatically cancel the payment.

Duplicate contract

If the system detects two payments that are identical then it will assume this has been inputted in error and will auto reject one of the payments in question. To prevent this rejection, please make sure that the reference field of each of the payments is unique to one another - a difference of one character or more will be sufficient to differentiate them in the system. 

Invalid BIC format

This happens when the creditor account details have been incorrectly formatted on the payment instruction. Please check the creditor details directly with the creditor before they resubmit the payment from their Banking Circle account.

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